India's IRB Infra files for $650 mln IPO for investment unit

September 8, 2016 9:03 AM

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MUMBAI, Sept 8 India's IRB Infrastructure Developers Ltd said it has filed an application for an initial public offering of its infrastructure investment trust to raise up to 43 billion rupees ($647.20 million).

The IPO would be India's first listing of an infrastructure investment trust (InvIT) after the Securities and Exchange Board of India (SEBI) unveiled in 2014 rules that provided a regulatory framework to set up and list these structures.

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